Executive contracts should help boost local small and medium enterprise sector
Sinn Fein MLA and Economic spokesperson, Mitchell McLaughlin, has said that one measure that may be adopted to help sustain the local economy is the tailoring of Executive contracts into smaller, yet more numerous packages, to help local small and medium enterprises compete for tenders.
Speaking today Mr McLaughlin said:
"The Assembly should examine how Executive contracts could be scaled down and broken up in order to provide the opportunity for the small and medium enterprise section of the construction industry a chance of securing such contracts.
"Currently these contracts are bundled together and tendered for with massive budgets involved, some indeed being over the £100 million mark. which inevitable means that local firms loose out and any profits exit the local economy.
"This is not a case of not spending as much but one of tailoring the projects to suit the local economic climate. With small and medium enterprises making up 90% of the private sector this move would help sustain local businesses in the long term."